Trustmark (NASDAQ:TRMK) Upgraded to Outperform at Keefe, Bruyette & Woods

Trustmark (NASDAQ:TRMK - Get Free Report) was upgraded by stock analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating in a research note issued on Thursday, Marketbeat reports. The brokerage currently has a $36.00 price objective on the financial services provider's stock, up from their prior price objective of $30.00. Keefe, Bruyette & Woods' price target points to a potential upside of 20.72% from the stock's current price.

TRMK has been the topic of several other research reports. TheStreet upgraded shares of Trustmark from a "c+" rating to a "b" rating in a report on Tuesday, January 23rd. StockNews.com upgraded Trustmark from a "sell" rating to a "hold" rating in a report on Friday, April 19th. Piper Sandler restated a "neutral" rating and issued a $29.00 price objective on shares of Trustmark in a research note on Tuesday, March 26th. DA Davidson reiterated a "neutral" rating on shares of Trustmark in a research note on Monday, January 15th. Finally, Truist Financial raised their price target on shares of Trustmark from $29.00 to $30.00 and gave the stock a "hold" rating in a research report on Monday, April 1st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $32.25.

Trustmark Stock Up 1.6 %

Shares of NASDAQ:TRMK traded up $0.46 on Thursday, reaching $29.82. The company had a trading volume of 739,757 shares, compared to its average volume of 282,886. The stock has a market capitalization of $1.82 billion, a P/E ratio of 11.60 and a beta of 0.82. The stock has a 50-day moving average price of $26.79 and a 200 day moving average price of $25.46. Trustmark has a twelve month low of $18.96 and a twelve month high of $30.09. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. Trustmark had a return on equity of 10.16% and a net margin of 13.82%. The firm had revenue of $288.55 million during the quarter, compared to analyst estimates of $187.03 million. During the same period in the previous year, the company earned $0.82 EPS. On average, equities analysts expect that Trustmark will post 2.44 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP bought a new position in shares of Trustmark in the fourth quarter valued at $12,572,000. Norges Bank bought a new position in shares of Trustmark during the fourth quarter worth approximately $10,992,000. Federated Hermes Inc. grew its stake in Trustmark by 2,226.6% during the fourth quarter. Federated Hermes Inc. now owns 329,081 shares of the financial services provider's stock worth $9,175,000 after buying an additional 314,937 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Trustmark during the fourth quarter worth about $8,215,000. Finally, Verition Fund Management LLC bought a new position in Trustmark in the 4th quarter valued at approximately $5,611,000. Institutional investors own 67.64% of the company's stock.

Trustmark Company Profile

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.